ISLAMABAD (January 18 2003) : The government has increased retail profit/margin on all imported medicines to 15 percent to put an end to the controversy between the importers and retailers, and a formal notification to this effect is expected shortly.
Sources told Business Recorder on Friday that the decision on retail profit/margin on imported medicines was taken at a meeting held in Islamabad on January 13, which was chaired by Director-General Heath, Surgeon Rear Admiral M Aslam and attended by all important stakeholders of the medicines sectors including the Pakistan Chemists and Druggists Association (PCDA), Pakistan Pharma, Pakistan Pharmaceutical Importers Association (PPIA).
Sources said that after threadbare discussion and hearing the points of view of all stakeholders, the DG Health declared that the government cannot distance from rule 35 of the Drug Act, which provides that retail margin/profit on all imported medicines would be 15 percent and all the parties are required to follow the decision in good spirit.
The issue had been a bitter controversy between the retailers and importers of drugs.
The PCDA had made a complaint to the Ministry of Health that some of the importers were giving them 10 percent retail profit/margin against 15 percent, which was a clear violation of rule 35 of the Drug Act.
The retailers were happy over the decision. Chairman, PCDA, Punjab zone, Khalid Mahmood, and Co-ordinator to the central Chairman, Abdul Jabbar Sheikh, termed the decision as a right step, which would create a healthy atmosphere in the market.
They wanted early notification of the decision.